Izzy sacked now? Almost...

Israel Folau edged closer to the Wallabies bin today after rugby bosses served him with a breach notice over his religious social media rant against homosexuality last week.

Folau, 30, now has 48 hours to accept his contract termination or appeal to a code of conduct hearing where he can try to defend himself.

"The Integrity Unit deemed Folau had committed a high-level breach of the Professional Players’ Code of Conduct warranting termination of his employment contract," said a statement from Rugby Australia this afternoon.

"Folau has 48 hours to accept the sanction or have the matter referred to a Code of Conduct hearing."

Rugby Australia Chief Executive Raelene Castle added: “At its core, this is an issue of the responsibilities an employee owes to their employer and the commitments they make to their employer to abide by their employer’s policies and procedures and adhere to their employer’s values.

“Following the events of last year, Israel was warned formally and repeatedly about the expectations of him as player for the Wallabies and NSW Waratahs with regards to social media use and he has failed to meet those obligations.

"It was made clear to him that any social media posts or commentary that is in any way disrespectful to people because of their sexuality will result in disciplinary action.

“All professional Rugby players in Australia are bound by the Code of Conduct and there is a process in place for any disciplinary matter. We appreciate that this particular matter will attract significant interest, but due process must be followed.”